企业慈善捐赠具有战略效应吗?——基于产品市场竞争的视角  

Does Philanthropic Donations have Strategic Effect? Evidence from Competition in Product Market

作　　者：胡珺[1] 王红建[1] 宋献中[1] 

机构地区：[1]暨南大学管理学院,广东广州510632

出　　处：《审计与经济研究》2017年第4期83-92,共10页Journal of Audit & Economics

基　　金：国家社会科学基金重点项目(14AZD068);国家自然科学基金面上项目(71372166);国家自然科学基金青年项目(71502174);广州区域低碳经济研究基地

摘　　要：以2003—2014年的沪深A股上市公司为样本,从产品市场竞争的角度考察了企业慈善捐赠是否具有战略效应。研究发现,慈善捐赠与企业在产品市场的竞争强度显著正相关,以宗教文化作为工具变量等方法缓解内生性问题后,这一正相关关系依旧成立。广告营销、产品创新会强化企业慈善捐赠的产品市场竞争效应;但是在受地震冲击年份,企业慈善捐赠的产品市场竞争效应相对较弱;相对于国有控股企业,非国有控股企业的慈善捐赠行为在产品市场的竞争效应更强。进一步分析表明,企业管理层一般都能识别慈善捐赠可能形成的产品市场竞争效应,表现在当地区的新产品上市更多时、企业的产品与消费者直接接触时,企业的慈善捐赠行为更加积极。Based the list companies’ data during 2003 and 2014,this paper explores the strategic effect of corporate philanthropic donations from the perspective of competition in the product market. The result indicates that philanthropic donations is positively related to the competition intensity of enterprises in the product market. Using religious culture as an instrument variable to ease the endogeneity problem,the positive relationship still holds. Moreover,Advertisement marketing and product innovation will strengthen this strategy effects. However,when the year is shocked by the earthquake,the competitive effect would be relatively weakened. Compared with the state-owned enterprises,competitive effects in non-state-owned enterprises are much stronger. In addition to this article,we also find that corporate managers could identify the general effect of product market competition with charitable donations,which means that the more products supplied to market and direct contact to consumers,the more corporate charitable donations will be collected.

关 键 词：企业慈善捐赠 产品市场竞争 战略效应 社会责任会计 竞争效应 经济效应 企业社会责任 

分 类 号：F272.3[经济管理—企业管理]